European shares steady, Deutsche Bank underperforms

LONDON Oct 8 (Reuters) - European shares were steady on
Thursday, although Deutsche Bank fell and
underperformed the broader market after it warned of a record
pre-tax loss in the third quarter.

Deutsche Bank's shares were down by around 2 percent in
early session trading, underperforming a flat performance on
Germany's benchmark DAX equity index and a 0.2 percent
rise on the pan-European FTSEurofirst 300 index.

Deutsche Bank said it was bracing for a record pre-tax loss
of 6 billion euros (US$6.7 billion) in the third quarter.

The German company's problems caused the STOXX Europe 600
Bank Index to fall 0.5 percent, but European healthcare
stocks rose 1.2 percent after U.S. biotechnology
companies rallied overnight in New York.
(Reporting by Sudip Kar-Gupta; Editing by Alistair Smout)